A new perspective for risk management: a study of the design of generic technology with a matroid model in C-K theory

Pascal Le Masson (), Benoit Weil () and Olga Kokshagina ()
Additional contact information
Pascal Le Masson: CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique
Benoit Weil: CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique
Olga Kokshagina: CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: Risk management today has its main roots in decision theory paradigm (Friedman and Savage 1948). It consists in making the optimal choice between given possible decisions and probable states of nature. In this paper we extend this model to include a design capacity to deal with risk situations. A design perspective leads to add a new action possibility in the model: to design a new alternative to deal with the probable states of nature. The new alternative design might also "create" new risks, so that a design perspective leads also to model the emergence of new risks as an exogenous "design process". Hence a design perspective raises two issues: can we design an alternative that would lower the risk? Does this new alternative create new risks? We show (1) that minimizing known risks consists in designing an alternative whose success is independent from all the known risks – this alternative can be considered as a generic technology. We show (2)that the design of this generic technology depends on the structure of the unknown, ie the structure of the space generated by the concept of risk-free alternative. (3) We identify new strategies to deal with risks as dealing with the unknown.

Keywords: Generic technology design; risk management; design theory; matroid; evolutionary model; structure of the unknown; robustness; decision theory; independence (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-rmg
Note: View the original document on HAL open archive server: https://minesparis-psl.hal.science/hal-01083249v1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Principia Designae － Pre-Design, Design, and Post-Design - Social Motive for the Highly Advanced Technological Society, 2015, 978-4-431-54403-6

Downloads: (external link)
https://minesparis-psl.hal.science/hal-01083249v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01083249

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().